Company updates from 2026

4 February 2026 

Source:  Celtic Renewables

Update document sent to Abundance shareholders.

The update confirms that the formalities linked to the extension of payment of interest due to Abundance shareholders, agreed in the autumn of 2025, have been carried out.

Funding.

It confirms also that they company has secured the operational funds needed to keep the company afloat in during 2026 have been secured.   'The Company successfully completed its targeted fundraising (c£16.3m) in December 2025. This funding enables Celtic Renewables to progress our first industrial scale
biorefinery, Project Willow, here in Grangemouth, to an investible project point with the construction expected to start in H2 2026, to finance further growth activity and to provide a funding runway into 2027'. 

£6.3m was provided by a grant from Scottish Enterprise, with the remainder a crowdfunding and other private shareholders.

6 May 2026

Source:  Crowdcube

Key points:

Reiterates the funding activities from late last year:

• Awarded £6.23 million in Scottish Government Project Willow ‘Just Transition’ Grant funding to progress our plans for an
  Industrial-Scale biorefinery in Grangemouth.
• Alongside, secured an additional £10 million funding commitment from Scottish Enterprise and private investors, including the Crowdcube
  investors who participated in the December 2025 fundraise. The £16.23 million is to fund the project development activities through to FID (Final Investment Decision) on the planned industrial-scale biorefinery in Grangemouth (now called Project Mobius) 
• Land has been secured and the planning application process has been initiated.
• The Front End Engineering & Design (FEED) process, that commenced with Allan Associates in November 2025, is progressing as planned with completion expected by Q3 2026. 
• The process to raise funding for the construction of the next biorefinery (with the capital cost estimated at £125m) is also underway with the demonstration of continued progress on project plans being integral to securing such funding.
• Looking to secure funding (equity and debt) for the next phase of the Group’s growth including the project finance required to construct and commission the full scale biorefinery at Grangemouth.
• As for the original pilot plant, positive results were achieved in Q4 2025 in terms of performance and yield improvement through the trialling of new strains.